star dust
Member of DD Central
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Post by star dust on Nov 11, 2017 12:33:26 GMT
I don't think I'd be much help. I haven't ruled out joining.  I’m certainly still waiting for my chance to be able to contribute. Can’t be ruled out that I won’t at some point (!) If it proves successful and the forum doesn’t close, then I think there’ll be lots of things people can do to help out and pool resources, without being any kind of expert on DD or anything else for that matter. DD shouldn’t just be for the loan start it should continue through the life of the loan. The more eyes there are to watch and look out for changes the easier it becomes and the more will be gained. Just a couple of examples (there are many more), I may be wrong, but I understand company house alert notifications are restricted to 10 per person; there are an awful lot of companies involved in the loans, let alone connected companies that might be pertinent to the bigger picture. If these could be divided up so each take their share, then the collective data pool will be that much richer. Then there are cost items like land registry documents, an insignificant £3 a go you might think, well, someone posted the maths somewhere once, and if you’re only allocated a small slice of a loan or you are not a BH or even a medium one, it’s simply not worth it. I’ve never bought any for DD, if I really think it’s necessary I wouldn’t invest in the loan. However, I might be prepared to buy a couple if I could share in scores more because we’re all contributing.
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Post by dan1 on Nov 11, 2017 15:10:55 GMT
I’m certainly still waiting for my chance to be able to contribute. Can’t be ruled out that I won’t at some point (!) If it proves successful and the forum doesn’t close, then I think there’ll be lots of things people can do to help out and pool resources, without being any kind of expert on DD or anything else for that matter. DD shouldn’t just be for the loan start it should continue through the life of the loan. The more eyes there are to watch and look out for changes the easier it becomes and the more will be gained. Just a couple of examples (there are many more), I may be wrong, but I understand company house alert notifications are restricted to 10 per person; there are an awful lot of companies involved in the loans, let alone connected companies that might be pertinent to the bigger picture. If these could be divided up so each take their share, then the collective data pool will be that much richer. Then there are cost items like land registry documents, an insignificant £3 a go you might think, well, someone posted the maths somewhere once, and if you’re only allocated a small slice of a loan or you are not a BH or even a medium one, it’s simply not worth it. I’ve never bought any for DD, if I really think it’s necessary I wouldn’t invest in the loan. However, I might be prepared to buy a couple if I could share in scores more because we’re all contributing. I think the companies house notification service (when new filings are posted to a companies listing) is unrestricted but there is a limit of 10 properties on the LR Property Alert Service, although I recommend you prioritise your own residence. iirc there's no such notification service for The Gazette. It would be useful to list these resources somewhere...
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hector
Member of DD Central
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Post by hector on Nov 11, 2017 16:13:26 GMT
Sadly I am unable to join as although I have been a forum member for several years, & read the posts usually twice every day, I am not a prolific writer & therefore do not have the required 50 strikes. I certainly do not intend to just post a load of nothing just to get my numbers up.
Hector
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archie
Posts: 1,865
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Member is Online
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Post by archie on Nov 11, 2017 16:23:24 GMT
Sadly I am unable to join as although I have been a forum member for several years, & read the posts usually twice every day, I am not a prolific writer & therefore do not have the required 50 strikes. I certainly do not intend to just post a load of nothing just to get my numbers up. Hector Maybe anyone who has been a forum member for more than a year should be able to appeal on the posting count requirement. 
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elliotn
Member of DD Central
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Post by elliotn on Nov 11, 2017 16:23:45 GMT
Sadly I am unable to join as although I have been a forum member for several years, & read the posts usually twice every day, I am not a prolific writer & therefore do not have the required 50 strikes. I certainly do not intend to just post a load of nothing just to get my numbers up. Hector Member since last year? I think the idea is that those that have shown a willingness to contribute and share their findings rather than just consume will be seeded first.
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duck
Member of DD Central
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Post by duck on Nov 11, 2017 16:32:26 GMT
.... will be seeded first. Strewth that is some entrance fee!
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1stwaz
Member of DD Central
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Post by 1stwaz on Nov 11, 2017 19:43:52 GMT
I am in the same boat, I have been a lurker on the Lendy thread, Is there no way that length of membership could be a way to meet the criteria of membership.
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GeorgeT
Member of DD Central
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Post by GeorgeT on Nov 11, 2017 20:32:05 GMT
Maybe think of DD Central as being a bit like a bank. i.e. you can't make a withdrawal until you've paid something in.
It could be argued it's a bit unfair on the hard working DDers if others who don't contribute anything can come along and benefit from their hard work and diligence. It's a bit parasitic.
I don't think anybody expects any high level 'Professer of P2P' type input but it doesn't take long to share a comment or opinion now and again, and anyone who does that will soon qualify for entry.
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zlb
Member of DD Central
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Post by zlb on Nov 11, 2017 20:55:48 GMT
I'm not anywhere near 50 posts. I would have thought that 50 authentic-seeming comments would not be too big a hurdle for someone who was not meant to join DDC. Someone who was not a genuine contributor would be better able to fabricate authentic-sounding commentary than I could.
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zlb
Member of DD Central
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Post by zlb on Nov 11, 2017 21:05:18 GMT
plus, I've not wanted to contribute to criticism of Lendy in case, in number, it contributes to platform failure. I'm not happy with what has happened with some loans which appear to be about DD of the borrower, not the project.
What about less-experience people learning from the DD Central and then contributing? I can judge some things but I don't know about others like researching the borrower.
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Post by investorman on Nov 11, 2017 21:39:01 GMT
The past dealings of a borrower, as well their debts and dealings elsewhere are surely important though?
I see a lot of loans via SPVs so company history is nil.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Nov 11, 2017 22:05:37 GMT
SPAM SPAM SPAM!
<50 posts - only one post per day.
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bugs4me
Member of DD Central
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Post by bugs4me on Nov 11, 2017 22:40:36 GMT
plus, I've not wanted to contribute to criticism of Lendy in case, in number, it contributes to platform failure. I'm not happy with what has happened with some loans which appear to be about DD of the borrower, not the project. What about less-experience people learning from the DD Central and then contributing? I can judge some things but I don't know about others like researching the borrower. I assume as this is on the DD Central thread then we're not talking about the general Lendy platform forum. DD Central is totally about known facts regarding loans being offered. It's not there to criticise any platform but to assist prospective lenders/investors in their decision making process. Whether to lend or not. Also of course, members may pick up additional information during the life of a loan which may or may not affect a lender's decision to either sell out or hold to term. DD Central does not offer advice - that is entirely up to the individual to come to their own conclusions. A great deal of DD is carried out by individuals which is both time consuming and sometimes incurs a cost. Far better we 'pool' our information as and when it becomes available. I think the post by star dust p2pindependentforum.com/thread/10667/dd-central-launched?page=6 really summed everything up. As far as posting general criticism of a platform is concerned in the general forum then it's important to remember that IMO the number of forum members makes up a tiny minority of P2P lenders. The vast majority of lenders simply read the platform headline rate and away they go. Personally I would prefer they were all members here as it is their hard earned cash which in a few cases is not being wisely lent IMO.
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Post by mrclondon on Nov 11, 2017 23:07:01 GMT
Please report the obvious FLUFF / SPAMMY posts and we will delete them and reduce the post count to match. If they aren't reported they won't get deleted. I should add that almost all the posts made in DD Central so far, a large percentage of which I've made, are very dry, exceedingly boring, hard to read notes on the assets/borrowers behind the loans. I think some people are going to be disappointed after putting the effort in to create dozens of spammy posts to get their post count up finding the posts in DD Central are not that relevant to themselves. Unfortunately, I'm not sure there's a better alternative. (Well, there may be, but I don't think subscriptions would be a popular suggestion!  ) I just hope that the initial surge doesn't continue and that the DDC output finds its way to the main boards as expected, hopefully reducing the FOMO element given time. The long term solution is a KYC based forum to replace this one, but there are a lot of challenges in how that would work. In the meantime, I share your hope that we are simply experiencing an initial surge that will quickly die down. |
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elliotn
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Post by elliotn on Nov 12, 2017 5:34:55 GMT
I am in the same boat, I have been a lurker on the Lendy thread, Is there no way that length of membership could be a way to meet the criteria of membership. I have enjoyed your flurry of overnight Ly posts, ty.
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